KORTEO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
KORTEO
Largest movements
- Receivables within one year -€750,265
down €750,265 (-79.2%), from €947,464 to €197,199
of which Other amounts receivable: -€739,392
- Other debts -€760,615
down €760,615 (-77.2%), from €985,616 to €225,001
- Profit (loss) carried forward +€11,002
up €11,002 (+9.2%), from -€119,895 to -€108,893
- Gross operating margin -€13,932
down €13,932, from €11,503 to -€2,429
- Financial income -€10,288
down €10,288 (-32.5%), from €31,696 to €21,408
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €978,281 | €221,200 | -€757,082 | -77.4% |
| Fixed assets | 21/28 | €8,766 | €1,252 | -€7,513 | -85.7% |
| Tangible fixed assets | 22/27 | €8,766 | €1,252 | -€7,513 | -85.7% |
| Furniture and vehicles | 24 | €8,766 | €1,252 | -€7,513 | -85.7% |
| Current assets | 29/58 | €969,516 | €219,947 | -€749,568 | -77.3% |
| Stocks and contracts in progress | 3 | €20,553 | €16,428 | -€4,125 | -20.1% |
| Stocks | 30/36 | €20,553 | €16,428 | -€4,125 | -20.1% |
| Amounts receivable within one year | 40/41 | €947,464 | €197,199 | -€750,265 | -79.2% |
| Trade receivables | 40 | €31,865 | €20,992 | -€10,873 | -34.1% |
| Other amounts receivable | 41 | €915,599 | €176,207 | -€739,392 | -80.8% |
| Cash at bank and in hand | 54/58 | €1,499 | €6,320 | +€4,822 | +321.7% |
| Total equity and liabilities | 10/49 | €978,281 | €221,200 | -€757,082 | -77.4% |
| Equity | 10/15 | -€28,267 | -€17,266 | +€11,002 | +38.9% |
| Contributions | 10/11 | €12,350 | €12,350 | = | 0.0% |
| Reserves | 13 | €79,278 | €79,278 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,596 | €7,596 | = | 0.0% |
| Distributable reserves | 133 | €69,822 | €69,822 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€119,895 | -€108,893 | +€11,002 | +9.2% |
| Amounts payable | 17/49 | €1,006,549 | €238,465 | -€768,084 | -76.3% |
| Amounts payable after more than one year | 17 | €1,684 | €0 | -€1,684 | -100.0% |
| Financial debts | 170/4 | €1,684 | €0 | -€1,684 | -100.0% |
| Amounts payable within one year | 42/48 | €1,004,865 | €238,465 | -€766,399 | -76.3% |
| Current portion of amounts payable after more than one year | 42 | €6,706 | €1,684 | -€5,021 | -74.9% |
| Trade debts | 44 | €10,738 | €7,665 | -€3,073 | -28.6% |
| Suppliers | 440/4 | €10,738 | €7,665 | -€3,073 | -28.6% |
| Taxes, remuneration and social security | 45 | €1,804 | €4,115 | +€2,310 | +128.0% |
| Taxes | 450/3 | €1,804 | €4,115 | +€2,310 | +128.0% |
| Other amounts payable | 47/48 | €985,616 | €225,001 | -€760,615 | -77.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,513 | €7,513 | = | 0.0% |
| Gross operating margin | 9900 | €11,503 | -€2,429 | -€13,932 | |
| Operating profit (loss) | 9901 | €3,989 | -€9,943 | -€13,932 | |
| Financial income | 75/76B | €31,696 | €21,408 | -€10,288 | -32.5% |
| Recurring financial income | 75 | €31,696 | €21,408 | -€10,288 | -32.5% |
| Financial charges | 65/66B | €370 | €287 | -€83 | -22.4% |
| Recurring financial charges | 65 | €370 | €287 | -€83 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €35,316 | €11,179 | -€24,137 | -68.3% |
| Income taxes | 67/77 | €168 | €177 | +€9 | +5.4% |
| Profit (loss) for the period | 9904 | €35,148 | €11,002 | -€24,146 | -68.7% |
| Profit (loss) for the period to be appropriated | 9905 | €35,148 | €11,002 | -€24,146 | -68.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.